All posts by Michael Hodges

I am a long time trader with over a decade of experience. I am a big fan of social trading and think it is a great way to trade.

NADEX, The Best Broker For US Binary Options Trading


Social Trading Binary Options

US=Yes
$250 Deposit
Regulated
NADEX
Full Review
NADEX Demo
Account
Visit NADEX Now!

There are quite a few brokers that allow US traders to trade binary options. There is only one best broker for US binary options trading and that is NADEX. If anyone, or any website, tells you different they are not being honest with you. NADEX is the only CFTC approved binary options exchange on the market that is serving retail traders like me and you. CFTC regulation is an important aspect to consider, for sure, but believe you me it is not the reason, or not the only reason, why NADEX is the broker you should be using.

Legal And Trustworthy – There are lots of trustworthy brokers on the market but that does not make them legal. Brokers like Tradorax, TradeThunder all accept US traders but they don’t provide the same protections for you and your money. An offshore broker may be reliable in terms of platform, trading and payout but without the backing of the CFTC there is still the chance of fraud and scams. At the very least there is no protection for you in case of complaint or dispute.

Further, since the off-shore brokers are breaking US law there is always the risk of being shut out, or them being shut down, even if they are operating on the up-and-up. Trading at NADEX is not like that. They are 100% legal which makes them safe and trustworthy with the backing of the US legal system to protect you. I’ve never heard of a single NADEX scam, or fraud, or case in which they took advantage of anyone, and if they did the CFTC would take care of it, and of you.

Better Returns – Offshore brokers tend to pay returns in the range of 70-90% on average with most coming in at the low end of the range. A very few will go higher, most will offer exotic style options like one-touch, range or boundary that have returns that count in the hundreds of percents, 300-500% is not uncommon but come with enhanced risk as well. NADEX binary options, when trading at the money strikes, return 100% on average with that going up to over 1000% when using deep out of the money strikes. On top of that, there is no fear of price manipulation, platform outages or any other discrepancy to prevent you from winning or cutting your profits short.

Of course, it is also possible to make returns that are less than 100%, using a strike that is already in the money may return only 10-50%, but these options also have a high probability of closing in the money … a nearly guaranteed return for the savvy trader. So, what’s better? Maybe getting 85% IF the platform works and the broker doesn’t cheat you or making 50-100% on a platform you know is legit?

The Trading Is Better – Trading at an off-shore broker is very limited. Your only option, no pun intended, is to BUY a call or BUY a put. Once you do the only thing you can do is sit back and wait for it to close, hopefully in the money, and hopefully without any price manipulations. Very rarely will you have the ability to close the position before expiry, and if you do even that option is limited to an “available window” which is dictated by the broker with diminished returns.

NADEX is much more versatile. First, there are no calls and puts, NADEX trades like spot forex, you can buy to open, and you can sell to open. If you buy to open you pay for the position and profit when it closes in the money. When you sell to open you GET PAID for the position and profit when it closes out of the money. On top of that either position can be closed AT ANY TIME with no limits and no “available” windows, for a profit if there is one or to cut losses when you need to. You can follow this link for The Geek’s Tips For Trading NADEX binary options.

Respect – Not only is NADEX a respectable broker, they respect their traders. When you join NADEX you become a valued MEMBER of the exchange, free to trade with other members of the exchange, and are not betting against the house. Off-shore brokers are more like a dealer at a back room gambling table, when you trade you’re betting against the house, and in the end the house always wins. They don’t respect you, to them you are just another mark whose money will soon be theirs.

NADEX is an exchange, you trade with other traders at on the exchange and NADEX makes a little money each time a contract is opened or closed. The offshore guys make money when you lose, all of your money, so they want you to lose as much as possible. NADEX wants to provide a high quality platform, for everyone to have a good time and do not use pushy marketing tactics, shady “account managers” or scam signal services to lure you in. If this is the kind of broker you want to trade with there is no reason you shouldn’t join NADEX now.

The Geek’s Tips For Trading NADEX Binary Options

Interested in trading on NADEX? Having a hard time figuring out how it works? This is my list of tips for trading NADEX binary options covering how to set up the platform for ease of use, picking strikes and expiry and using the features to their fullest potential. If you are new to NADEX or even not so new this is information you need. If you don’t know much about NADEX yet or if it is the right choice for you follow this link to the Geek’s Review Of NADEX.

The Geek’s Tips For Trading NADEX Binary Options

Setting Up Your Screen – The first thing you may have noticed about NADEX is that the trading platform and screen is a little busy, there is a lot going on. The first tip is to be sure you understand what you are looking at, and how to set it up for your use. What I want to make clear is that each section of the chart is an individual frame that can be added, removed or altered at will. You can change where each is located as well as it’s size. When you first pull up the platform it likes to display the “most traded assets” which I find to confusing to use. I like to pick an asset, in this example the EUR/JPY, and then click on the expiry I want to trade which will pull up a frame with just that asset and all the strikes available at that expiry. Other options for viewing are Open Trades and Working Orders which list which options you own, and which ones have orders yet to be filled.

nadex custom screen

Choosing Expiry At NADEX - Choosing expiry, and strike, are the two most important choices you can make when trading at NADEX. Expiry is a little less important because you can close your position whenever you want, if it is showing a profit you make a profit. However, if you want to hold the option until it expires and make the max profit the expiry time becomes more important. This will be dependent on your signal, and what time frame you are trading. I like to trade using end of week for daily chart signals, sometimes end of day, and I use the closest intraday for when I trade shorter term.

In the image you can see that expiry is listed as 11AM to 1PM, 12AM to 2PM and etc. This is the window in which the option trades, the 11 to 1 option opens for trading at 11 and closes for expiry at 1PM. There are also short term 5 minute and 20 minute expiry that open and close every 5 or 20 minutes. Each asset class has different expiry windows based on the open market times they trade, I recommend familiarizing yourself with the ones you like to trade the most.

choosing expiry at NADEX

Choosing Strike Price At NADEX – How to choose expiry at NADEX is the question I get most often. It can be confusing, there are a lot of choices, and if your screen is not set up for ease of use like I went over before it can be really confusing. As a rule of thumb, especially for those new to NADEX, I always suggest using the AT THE MONEY strike price when you take an active signal, be it one you derive yourself or one that you get from a service provider. Using the at the money strike most closely mimics trading spot style binary where your strike is the price of the underlying asset at the time of purchase.

You can find the at the money option easily by looking at the window of available strikes for the asset/expiration you are trading. See below. The price of the ATM option will be very near to $50 which means your return will be close to 100%, usually about 90%, much much better than the average 75% return of offshore brokers. If you feel strongly about the trade, you can pick an out of the money strike for a lower price, if you are less sure then pick an in the money strike for a higher price.

how to choose strike price at NADEX

Buying And Selling At NADEX - You may have noticed by now that all options are listed with a bid and an offer price. When you are selling an option you get the BID price, it is what buyers are bidding. When you buy an options you pay the OFFER price, it is what sellers are offering their options for. The difference is what is known as the spread, actively traded strikes, expiries and assets have lower spreads, less actively trading have bigger spreads. In terms of NADEX trading the spread is not too important, important but not the end of the world for you profitability, but it is a need to know item.

One more thing, when you are bullish at NADEX you buy to open, when you are bearish you sell to open. When you buy, you pay, when you sell, someone pays you. In the first case your profit per lot is the difference between the price you paid and $100. In the second your profit is the amount you receive, depending on if the option closes OUT OF THE MONEY (expires worthless for the person who bought it, otherwise your loss per lot is the difference between what you received in premium and $100)

nadex bid and ask spread

Understand The Order Ticket - There are a number of ways to pull up an order ticket. The order ticket is where you make the actual trade by choosing buy/sell, market or limit order and how much you want to spend. Regardless of where you click to get the ticket they all look the same, image below. Keep in mind that each ticket is for a certain asset, at a certain expiry time and a certain strike. If you want a different asset, strike or expiry you will need to pull up a ticket for that option.

how to use nadex order ticket

Making A Watchlist – Making your own watchlist can be very helpful if you like to trade multiple assets, or multiple expiries of the same asset. To do this all you have to do is click on the tab shown in the image below and then click on Add To Watchlist. There are other options on this drop down menu as well such as links to quick charts and order tickets.

nadex, how to add to watch list

The Charts – The charts at NADEX are quite good. They are fully functional and provide a view of the market in lines, bars or candles. Time frames run from tick data, to 1 second, 1 minute, 2 minute, 3 minute, 5, 10, 15 and 30 minutes, 1 hour, 2 hours, 3 hours, 4 hours and daily data. The charts also have drawing tools for support/resistance, Fibonacci and others. In all, there are over 30 drawing and technical tools. Tools include things like Ichimoku, MACD, Stochastic and moving averages. You can set up your charts however you like and save it for future use. Also on the charts, on the side of the screen, are listings of where available option strikes are in reference to asset prices, and quick links to order tickets for buying and selling.

NADEX charts

NADEX Demo Accounts - To help tie all of what I am about to go over together NADEX has a demo account. It is completely free, all you have to do is sign up, and it is fully featured. Every asset, every strike and every expiry is available to trade. The account is set up with $25,000 and allows you to experiment with the tools, trading and set up. If you haven’t already I strongly suggest you sign up a demo account now

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Binary Options Scam Review Or Scam Binary Options Review

Checking for binary options scam review is an important part of choosing a good broker or signal service. The problem is that there are just as many, if not more, review scams as there are scam reviews. What do I mean? I mean that many if not most of the reviews you will find are scams themselves. Every scam site on the internet has a review posted somewhere saying how great it is, how much money you will make and how much you can trust it. Well my friends, just because some websites says its trustworthy doesn’t mean it is . . . and probably isn’t.

It is a sad fact of life that the internet is full of copy trading, signal and social trading scams and that many of the reviews we rely on for information are scams themselves. In order to understand this it is important to understand a little about how internet marketing and review scams work. First, a website is posted with a scam offer. The offer itself will make wild claims of profits, or that it is different from all the rest and that it is trustworthy. Second, another website that may belong to the same people perpetrating the scam or just some other shady marketer pops up with a review telling you how great the service is, that it really makes money and that you really can trust it. Together the two sites create a false sense of security that takes advantage of inexperienced traders and their greed.

Binary Options Scam Review

How do you know if the review is a scam you may be asking yourself? With a little research and by little I do mean little. It really doesn’t take that much effort to uncover the truth. The first thing is to check out the original offer. If the offer itself seems scammy that is your first warning sign and red flag. Offers of free services, signals, trading robots or auto traders with high rates of return are often scams, nothing is really free. In order to get those free systems you will have to make a deposit with a recommended broker, which is not free and generates a commission for the website owner.

Other warning signs the offer is a scam are wild claims of how you will make thousands of dollars per day, or make millions in a few months, or that you will double your account with little effort. This is a marketing tactic and not a very subtle one. No one can guarantee your success, trading is risky and if it were that easy everyone would be doing it, right? Yet another red flag is a noticeable lack of details about how the service works. Sure, they all claim to use state of the art algorithms to analyze the market and give you signals but how do they do it? If there are no details and all you get is their signals it is likely a scam.

virtnext $18000 per day

Client testimony is a favorite tactic of scam sites. You won’t find one scam without a list of favorable comments, many of which are on video. What you need to remember is that if you suspect the site is a scam, you can’t and shouldn’t trust this testimony without further proofs. You also need to remember that there is a website service called Fiverr.com where you can pay someone to say anything for only $5. $5 is a small amount to pay considering an affiliate commission can be worth $300 or more.

Now let’s talk about the review itself. If you have already determined that the offer in question may be a scam and you find a review saying how great it is this is a red flag. It does not mean the offer or the review is necessarily a scam but the red flags keep popping up which means you definitely need to think twice before giving them your hard earned money. In order to avoid falling into a review scam do not believe the first one you read. You need to find at least 2 other corroborating reviews if not more. If you get blasted with warnings about not leaving the website or else you will miss out on the opportunity you’ve been presented with even more reason to suspect a scam.

wait dont leave

If you think that the website you are reading is a scam I suggest reading more than one review on that site. If they recommend multiple scammy looking services you’ve found another red flag because at this point there is a great chance the site is in business to lure unsuspecting traders into depositing their hard earned money. It is possible you will find some reviews that are good and some that are bad but that is just camouflage. You know, making one review appear to look legit by hiding it among a dozen that uncover true scams.

Scam Binary Options Reviews

There is one watchdog review website I know that is very good at camouflaging review scams among its many scam reviews. Take for instance this Virtnext review. The watchdog says Virtnext has been tested and that it is the most profitable system on the internet. When I went to the Virtnext site all I found was one big scam.

 virtnext scam review

The first thing you see is a video made by a paid actor, along with the claim you can make $18,000 per day. The next thing you see is a claim of free access, along with a timer counting down to when the offer is no longer valid (every time I go there the timer says the same thing, 10 minutes and counting down). Once you begin the sign up process by giving your name and email you enter a sophisticated sales funnel that leads you to … deposit with a broker, and you better do it fast because there are only a few spots left!

copy 1 of limited availability

What this watchdog site doesn’t tell you is that the people behind Virtnext are the same people behind many other scams including the PushmoneyApp, the 1k Daily Profit and the Copy Buffet Software. This is what they had to say about the PushMoneyApp….

 pushmoneyapp

Needless to say that this is a huge conflict of interest and does little to aid the credibility of the reviews or this website. If you think you have found a site like this I would love to hear about it in the forum.

The Bottom Line

The bottom line is that looking for get rich quick schemes for binary options is a fast way to get scammed. There really are none that truly work, at least not the way the scam artists would like you to believe. Trading successfully takes dedication and effort, if it were as easy as using a robot or autotrader we would all be living on a tropical island. Believe me, if it looks to good to be true it is.

If you really want to find a useful signal service or trading app I suggest you look into my review of Investoo.com. This site doesn’t require a deposit, the fee is low ($100) and you get a lot of value for your money including 300+ video lessons and MT4 indicators that generate trading signals.

Signals For 60 Second Binary Options Trading

Using signals for 60 binary options trading is the only way to be profitable. That being said, the signals you use and how you trade them makes a big difference. One thing that always needs to be considered is the lag time between when the signal generates, when you receive it and and when you are able to place the trade. I think it goes without saying that trading 60 second binary options is fast paced, so fast in fact that most signals from third party providers are old and out of date before you can place the trade.

60 second trading signals can work. They will produce profits, you just have to have to be quick enough to use them.

Copy Trading 60 Second Binary Options

The simplest way to get the quickest signals is to copy trade. Copy trading is when you follow another trader and have the trades they make for themselves execute in your account at the same time. While simple, copy trading is not easy, well, it’s not super easy. All you have to do is find some traders you like and follow them, and then keep track of how each one is doing and manage your account accordingly. Platforms I recommend are iFollow by SpotOption (numerous brokers), CopyOp by AnyOption, the Binary Replicator (now available at CTOption and Porter Finance) and the Trade4me.com social trading platform.

If I had to pick only one I would have to say that Trade4Me.com is the best of the copy trading platforms. It is a third party business that provides a platform for signal sellers and copy traders to interact. Sellers list their services along with full profiles showing trade style, history and performance. Copiers can choose the traders they like and subscribe to the services for a monthly fee. Fees are usually small, especially when compared to the profits you can make, and are easily recouped. Signals can be taken manually and used on any broker you like, you don’t have to sign up with a broker or make a deposit if you already have an account somewhere, or you can link a Stockpair account directly to the platform for automatic copy trading.

60 Second Binary Options Signals Trading

If you are not into copying and want to take signals on your own there are a couple of places to get them that I can also recommend. One is MarketsGear.com. MarketsGear is strictly a signal service, it is third party and not associated with any one broker. The service is free, but this means you will have to open a new account with one of their brokers.

This website delivers signals on just about every asset and for just about every time frame from 60 seconds to one hour. All you have to do is choose which ones to take and then stick with them. Their success rate runs in the range of 80% and they deliver hundreds of signals per day. Suggestions I have for trading them is to use only one time frame (in this case 60 seconds) and only one asset, whichever one you prefer, although I know some traders quick enough to trade to several assets at once.

Another source of fast signals for 60 second trading is V8Options, built on the Tradesmarter Platform. This broker has several unique features for traders but the ones relevant to this discussion are the social/copy trading features. One is a streaming list of trades as they happen. Each trade is displayed with the traders name and some basic stats such as win rate, you choose the ones you want to copy as they happen. The other feature is the Social Charts which display who traded when, at at what price, to help copiers choose who to follow.

MT4 Indicators For Binary Options Signals Trading

Another method is to use an indicator system to generate signals which is what I like to do. You can do this on your own with whatever charting package you prefer but the best method for binary options traders is to use an EA with your MT4. EA’s identify signals as they happen, give alerts when it is time to take a trade and can even be set to autotrade into a linkable account.

Any indicator can be coded into an EA, and there are lots of them on the market, but the ones I like the best are the Investoo.com indicators for MetaTrader. They have three binary options specific EA’s built around PSAR (parabolic stop and reverse), MACD (moving average convergence divergence) and stochastic that all come with high rates of success.

As an added bonus the team at Investoo.com will help you develop your own EA’s as well. If you have a system, or are working on one, they can help code it so that it will work on MT4 and generate buy/sell signals for you.

I like the indicator systems well enough on their own but it’s the rest of what they offer that really makes Investoo stand out from the crowd. At heart, Investoo is a leading resource for new and experienced traders that includes a video library with over 300 hours of lessons, binary options signals (over 200 per day) as well as the EA buy/sell indicators. The best part is that it only costs $100 to get the full package with no requirements to sign up or deposit with a new broker, although you can get the package for free if you do.

The Bottom Line

The bottom line is that 60 second trading is fast, its fun and it can be profitable. The trick is using the right the signals from a trusted source.

Recommended Signals For 60 Second Trading
Platform
Signals
EA’s
Videos
Copy Trade
Cost/Dep
CopyOp
NO
NO
NO
YES
$200 Dep
iFollow
NO
NO
YES
YES
Dep/Varies
Binary Replicator
NO
NO
YES
YES
$200 Dep
Trade4Me.com
YES
NO
NO
YES
Varies by Provider
MarketsGear
YES
NO
NO
YES
Dep/Varies
V8 Options
YES
NO
YES
YES
$250 Dep
Investoo.com
YES
YES
YES
NO
$100 or Deposit

Trade4Me.Com New And Improved Binary Options Copy Trading

Trade4me.com has long been a leading source of binary options copy and signals trading. The company has recently launched its 2.0 version which includes all the same great features we’ve come to know and love, and even more. The platform is a third party stand alone system linking copy traders with signal providers, signal providers with copy traders and traders of all kinds with brokers. The system is set up around a leader board with one major difference from platforms like CTOptions Trade Replicator and the SpotOption iFollow platform. Trade4.me is owned and operated by SAS NEUTRINO, an independant financial services company registered in France. SAS NEUTRINO is located at 28 Venelle De Kerivin, 29200 brest, France.

Copiers and leaders (signal providers) are kept separate. This means that as a copier you are only following traders who are making their own trades and not just other copiers. Upon sign up each member is given the choice, be a Follower or be a Leader. Followers can copy but not be copied, their profiles are private as is their trading history and they are not listed on the leader board. Leaders can be copied but can not copy, their profiles are public and their history is displayed on the leader board. Screenshots of the platform and leader board are provided at the bottom of this post.

Trade4Me.com Brokers, API’s, EA’s And AutoTrading

At this time there is only broker linked directly to the platform, Stockpair, but you can use the API interface to link to any broker or platform including MT4, MT5, Matlab, NinjaTrader, ThinkorSwim and Tradestation that allows it. All it takes is a few simple lines of code, complete instruction are provided on the website and technical support is available. In fact, the API interface allows you to use EA’s and tech support will help you code your own system if you have one. EA’s can be used by individual traders for signals, to send signals through your Leader account or to set up binary options autotrading.

If you already have StockPair account all you have to do is link it to the platform. If you don’t you can sign up on your own, or sign up through the Trade4Me.com platform but there is no requirement to do so. If you want you can follow traders and then execute the trades on any broker you’d like.

The platform also supports direct web trading with your Stockpair account. This means as a copier or signal provider you can trade directly from the Trade4Me platform. If you are a trade Leader, trades become signals and are sent to your followers and copiers. One bonus of using the web trader is advanced charting. Charts are great, display historical data in several time frames, displays data in candle sticks and includes the top trading tools and indicators. You can read my review for more on CySEC regulated Stockpair.

Trade4Me, For Binary Options Copy Trading

The leader board is set so it can be filtered in 5 ways; profitability (how much loot the leader has made), win/loss ratios, the number of trades made, the number of copiers each trader has and the number of followers. You may have noticed that there is no filter for asset but that doesn’t matter. The average copy platform may let you filter by asset but it’s an illusory concept; it doesn’t mean the trader you follow will only trade that asset or that you will only copy that asset, only that the trader has a good record with it. In order to find traders who trade a certain asset, or mostly trade a certain asset, look to the profile. Leader profiles include a trade history and a pie chart showing the breakdown of which assets are traded. The pie chart is good for a quick glance, the trade history is good for confirmation.

Trade4Me Copy Trading Accounts

Accounts are set up on a 5 tier system; Follow, Bronze, Silver, Gold and Diamond. Follow, the least expensive package, means that signals are sent whenever a followed trader makes a trade but the signals are not sent to the copy traders account, followers will have to make their own trades. From the Bronze package on up signals are automatically copied into your account with caps on trade size. Bronze accounts copy with trades up to $100 each, Silver is trade size up to $300, Gold trades are up to $1000 per signal and Diamond level trades are unlimited in their size.

As a copier, when you find a trader you want to follow, you have the option of choosing which trade package you want. You can follow as many traders as you like, each of them with a different package. As a signal provider you set the price on each level.

Leader Board

Trade4me Copy Trading Leaderboard

StockPair Web Trader

trade4me-stockpair-webtrader

Advanced Charting

trade4me-advanced-charting

Visit Trade4Me.com Now!

Trade4Me.com Profiles

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